If credit card companies comply—it will be huge.
My guess is that they will also have higher qualifications needed for applicants for new credit cards. Which would also be a good thing.
I’m not sure what legal leverage the White House has. I think none.
If rates are capped, there’ll be consumer meltdown.
I’m buying bank stocks and ETFs on the sell-off.
Yeah, they will respond: They will slash credit lines; they will triple the fees; they will increase transaction fees; and they will deny credit to marginal customers.
You cannot expect the stocks to rise continually and at the same time put in price controls.
Price controls NEVER work.
Reasonable swipe fees based on the cost of the swipe and not the amount would much more beneficial.